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unit6 mt
small business
| Question | Answer |
|---|---|
| - The marketing concept is a management philosophy that achieving company goals depends on: | Determining customer wants/needs and providing desired goods and services more effectively and efficiently than competitors do. |
| - Decisions regarding business image and positioning relate to which component of the marketing mix | Product |
| - Shipping costs and available discounts relate to which component of the marketing mix? | Price |
| - Determining how to move your product from the producer to the consumer relates to which component of the marketing mix? | Place |
| Developing news releases and coupons for use¹ in communicating with customers is an activity related to which component of the marketing mix | Promotion |
| - After extensive research of trends in related consumer spending patterns, a business selects a new and improved version of detergent to sell in their store. This decision relates to which component of the marketing mix? | Product |
| The Electronics World conducts¹ extensive training for all employees on their sales staff. This training relates to which component of the marketing mix | Promotion |
| A manufacturing plant is forced to lay off 250 employees due to a decrease in sales revenue. The layoffs result in a decrease in overall consumer spending throughout the community. This is an example of which type of external force affecting the marketi | Economic conditions |
| - Creating distribution centers to facilitate handling and controlling inventory is a: | Place decision |
| - Informing, reminding, and persuading customers about the goods and services available to them is which element of the marketing mix | Promotion |
| The decision to use air instead of rail transportation is related to which marketing mix element? | Place |
| - Information about a business or its products that is distributed through various media at no cost to the business and is not controlled by the business is: | Publicity |
| An example of publicity is a/n: | Radio station announcing that a company donated food to flood victims |
| - Dividing consumers into groups based on life style, personality, attitudes, values, activities, and interests is called: | Psychographic segmentation |
| What type of segmentation technique is being used when a company develops a separate marketing mix for people living in the US, Germany and Japan | Geographic segmentation |
| To justify the development of a marketing mix, a market segment must be | Measurable, substantial, reachable, responsive |
| Dividing the market into groups based on their response to a product such as rate of use¹, occasion response, benefits derived, or loyalty response is | Behavioral segmentation |
| When new homebuilders use slogans such as "Affordable housing starting at $75,000," what type of segmentation technique is being used? | Demographic segmentation |
| - What segmentation technique is being used when a sporting goods store promotes its products to the "sports enthusiast?" | Psychographic segmentation |
| - When a local gas station gives its customers a free gallon of gas for every ten fill-ups, what segmentation technique is being used to reach the target market | Behavioral segmentation |
| For which product would geographic segmentation MOST LIKELY be used | Snow skis |
| Which is a basis for demographic segmentation | Income |
| Which is a basis for psychographic segmentation | Life style |
| - Which is a basis for behavioral segmentation | Rate of use |
| - For which type product would psychographic segmentation MOST LIKELY be used? | Camping equipment |
| - A business that targets young professional female adults ages 21-30 is using | Demographic segmentation |
| Realizing that he cannot serve the entire customer market in his community, Joshua decides to select a smaller, more specific group. This division of the total market is: | Market segmentation |
| - Market position is: | The perceived standing of a business in the minds of customers |
| Which term can be defined as the conception, pricing, promotion, and distribution of products and services to satisfy customer wants and needs | Marketing |
Created by:
niyo
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